Morgan Stanley Cuts ConocoPhillips (NYSE:COP) Price Target to $146.00

ConocoPhillips (NYSE:COP) had its price objective dropped by stock analysts at Morgan Stanley from $153.00 to $146.00 in a research note issued to investors on Friday,MarketScreener reports. The firm currently has an “overweight” rating on the energy producer’s stock. Morgan Stanley’s target price points to a potential upside of 38.22% from the company’s previous close.

Several other research firms also recently weighed in on COP. Citigroup increased their target price on ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Susquehanna increased their price target on shares of ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Piper Sandler boosted their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Roth Mkm upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the company from $124.00 to $130.00 in a report on Monday, June 22nd. Finally, Raymond James Financial decreased their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, June 1st. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips Trading Down 0.7%

ConocoPhillips stock opened at $105.63 on Friday. The stock has a 50-day moving average price of $117.29 and a 200 day moving average price of $111.81. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The stock has a market cap of $128.69 billion, a PE ratio of 17.93, a P/E/G ratio of 1.18 and a beta of 0.11. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 earnings per share. Equities research analysts predict that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.09% of the company’s stock.

Institutional Trading of ConocoPhillips

A number of large investors have recently added to or reduced their stakes in the business. Ballast Advisors LLC purchased a new stake in shares of ConocoPhillips during the first quarter worth $36,000. Sapient Capital LLC raised its position in ConocoPhillips by 99.9% during the first quarter. Sapient Capital LLC now owns 10,203 shares of the energy producer’s stock valued at $1,347,000 after acquiring an additional 5,100 shares in the last quarter. Dakota Community Bank & Trust NA lifted its stake in ConocoPhillips by 44.9% in the first quarter. Dakota Community Bank & Trust NA now owns 781 shares of the energy producer’s stock valued at $103,000 after acquiring an additional 242 shares during the last quarter. Robinswood Financial LLC acquired a new stake in shares of ConocoPhillips in the first quarter worth about $53,000. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in shares of ConocoPhillips by 6.1% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 6,680 shares of the energy producer’s stock valued at $882,000 after acquiring an additional 382 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.